Sanctions Deepen the Recession (in Europe)

[newthinking]

(I don't particularly care for title on FDL but the article itself is a good read on the state of European economies and the effects (and timing) the sanctions are having on their economies, which were already on the verge of another downward cycle.)

Obama Buggers Europe: Sanctions Deepen the Recession
By: GREYDOG Sunday August 24, 2014 7:32 am
FDL

By James Petras, 99GetSmart

http://my.firedoglake.com/greydog/2014/08/24/obama-buggers-europe-sanctions-deepen-the-recession/




EXCERPTS:

The sanctions policies occur at a time when Europe’s economies are in deep economic crisis, exacerbating long-term stagnation and chronic recession. This paper will identify and analyze the crisis and how US-led sanctions policy is fracturing the European Union. Secondly, we will analyze how Washington’s militarist imperial policies undermine Europe economically and destabilize the rest of the world militarily. Thirdly, we will discuss how the European leaders are prodded by Washington, to put it crudely, through an aggressive ‘buggering process’, to surrender their economic sovereignty and how capitulation to the US project in the Ukraine will lead to their long-term decline and decay. Finally, we will discuss the long-term perspectives for a re-aligned world economy where military conflicts can result in large-scale changes.

From Stagnation to Recession from Sanctions to Depression

Across Europe, without exception, recession stalks the economies. The dominant countries, Germany, France and Italy are mired in recession, acutely exacerbated by the sanctions against Russia dictated from Washington. From Nordic Finland, passing through the Baltic States to Central and Southern Europe, the Eurozone ‘recovery’ is ‘kaput’! The ‘triple whammy’ of capitalist disinvestment, economic sanctions and wars has provoked a deepening economic crisis.

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The ‘Backside of Europe’: Spain, Greece and Portugal

Deeply buried in a near decade-long depression with unemployment ranging from 26% in Greece and Spain to 16% in Portugal, Russia’s reciprocal sanctions against agricultural exports has hit their agro-export sectors most severely, causing mountains of grapes, tomatoes and other perishables to rot in the fields. Tons of Southern Europe’s produce will end up as compost. Tens of thousands of farmers face even greater problems and more will be forced into bankruptcy because of Washington’s dictates.

Spanish farmers stand to lose 158 million Euros from the sanctions against their fresh fruit and nuts, or 22% of their total exports to non-EU countries; Greek farmers will lose 107 million Euros, 41% of exports to non-EU countries. Spanish meat exporters will lose 111 million Euros or 13% of their non-EU markets.

The full article:

http://my.firedoglake.com/greydog/2014/08/24/obama-buggers-europe-sanctions-deepen-the-recession/

and

Here
http://99getsmart.com/obama-buggers-europe-sanctions-deepen-the-recession/